The Pin
June 13 2024, 7:10 pm
The French brand Renault has returned to Venezuela after nearly a decade of interrupted business in that country and expects to market some 400 vehicles by the end of the year, as the automotive industry shows signs of recovery in car sales and the economy on track to grow in 2024, still awaiting the outcome of the elections.
By: Bloomberg Line
The information you need to start your day Subscribe for free!
The return of the brand occurred after a visit in 2023 by executives from the Importing Countries Directorate, which is a commercial team that serves markets without a direct subsidiary, to identify which partners were still established in the South American country in the midst of the crisis and identify strategies to recover that market.
Less than six months after this mission, they set up an operating plan to make the first exports from the Renault-Sofasa plant in Enviado (Colombia). The first batch consisted of about 100 vehicles and was shipped by land between November and December of last year.
“We reopened that border crossing between Cúcuta and San Antonio del Táchira for land exports from Colombia,” the president and general director of Renault-Sofasa, Argentine Ariel Montenegro, said in an interview with Bloomberg Línea.
The fall of this market (Venezuela) was a hard blow for the Colombian automotive industry and for Sofasa in particular, which was later partially compensated with exports and reaching other markets such as Argentina and Mexico.
You can read the full note at Bloomberg Line
